Old National Bancorp (NASDAQ: ONB) has a price-to-earnings ratio of 7.99x that is above its average ratio. Additionally, the 36-month beta value for ONB is 0.84. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 1 rating it as “overweight,” 7 rating it as “hold,” and 0 rating it as “sell.”
The public float for ONB is 313.39M and currently, short sellers hold a 3.74% ratio of that float. The average trading volume of ONB on April 17, 2024 was 2.24M shares.
ONB) stock’s latest price update
Old National Bancorp (NASDAQ: ONB)’s stock price has plunge by -1.34relation to previous closing price of 15.69. Nevertheless, the company has seen a -8.24% plunge in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-04-04 that EVANSVILLE, Ind., April 04, 2024 (GLOBE NEWSWIRE) — Old National Bancorp (“Old National”), the holding company of Old National Bank, today announced the following schedule for its first-quarter 2024 earnings release and conference call:
ONB’s Market Performance
ONB’s stock has fallen by -8.24% in the past week, with a monthly drop of -5.61% and a quarterly drop of -4.27%. The volatility ratio for the week is 3.15% while the volatility levels for the last 30 days are 2.56% for Old National Bancorp The simple moving average for the last 20 days is -6.53% for ONB stock, with a simple moving average of -1.34% for the last 200 days.
Analysts’ Opinion of ONB
Many brokerage firms have already submitted their reports for ONB stocks, with Barclays repeating the rating for ONB by listing it as a “Overweight.” The predicted price for ONB in the upcoming period, according to Barclays is $20 based on the research report published on March 08, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see ONB reach a price target of $17. The rating they have provided for ONB stocks is “Buy” according to the report published on December 01st, 2023.
UBS gave a rating of “Buy” to ONB, setting the target price at $15.50 in the report published on July 10th of the previous year.
ONB Trading at -5.71% from the 50-Day Moving Average
After a stumble in the market that brought ONB to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -12.24% of loss for the given period.
Volatility was left at 2.56%, however, over the last 30 days, the volatility rate increased by 3.15%, as shares sank -4.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.61% lower at present.
During the last 5 trading sessions, ONB fell by -8.24%, which changed the moving average for the period of 200-days by +10.81% in comparison to the 20-day moving average, which settled at $16.53. In addition, Old National Bancorp saw -8.35% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ONB starting from SCUDDER MICHAEL L, who sale 50,000 shares at the price of $16.81 back on Aug 11 ’23. After this action, SCUDDER MICHAEL L now owns 215,796 shares of Old National Bancorp, valued at $840,500 using the latest closing price.
Moran John V, the EVP, CHIEF STRATEGY OFFICER of Old National Bancorp, purchase 2,500 shares at $19.85 during a trade that took place back on May 09 ’23, which means that Moran John V is holding 2,500 shares at $49,625 based on the most recent closing price.
Stock Fundamentals for ONB
Current profitability levels for the company are sitting at:
- 0.51 for the present operating margin
- 1.0 for the gross margin
The net margin for Old National Bancorp stands at 0.33. The total capital return value is set at 0.04. Equity return is now at value 10.89, with 1.21 for asset returns.
Based on Old National Bancorp (ONB), the company’s capital structure generated 0.49 points at debt to capital in total, while cash flow to debt ratio is standing at 0.09. The debt to equity ratio resting at 0.96. The interest coverage ratio of the stock is 1.7.
Currently, EBITDA for the company is 775.46 million with net debt to EBITDA at 5.31. When we switch over and look at the enterprise to sales, we see a ratio of 5.56. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.04.
Conclusion
In conclusion, Old National Bancorp (ONB) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
